Common use of Release of Individual Property Clause in Contracts

Release of Individual Property. Provided no Event of Default has occurred and is continuing, Borrower may (i) cause Mortgage Borrower to obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Mortgage Loan Documents) and (ii) obtain the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive) on any Business Day not falling within a Release Lock-Out Period, but only upon the satisfaction of each of the following conditions:

Release of Individual Property. Provided no Event of Default has occurred and is continuing, Borrower may (i) cause Mortgage Borrower to obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Mortgage Loan Documents) and (ii) obtain the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive) on any Business Day not falling within a Release Lock-Out Period, but only upon the satisfaction of each of the following conditions:

Release of Individual Property. Provided no Event of Default has occurred and is continuing, after the expiration of the Lockout Period, Borrower may (i) cause Mortgage Borrower to obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Mortgage Loan Documents) and (ii) obtain the release of Borrower’s 's obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive) on any Business Day not falling within a Release Lock-Out Period), but only upon the satisfaction of each of the following conditions: